1351 Washington Blvd., Stamford
Washington Plaza, a Stamford office building, was recently sold for $19 million. Jeffrey Dunne and Steve Bardsley of CB Richard Ellis’ New York Tri-State Investment Team collaborated with Al Mirin of CBRE’s Stamford office to represent an investment advisor on behalf of a pension fund in the sale. The team was also responsible for procuring the buyer, Diamond Properties.
Washington Plaza, located at 1351 Washington Blvd. in Stamford, is a 219,216-square-foot Class B+ office building located near every major city road connecting the Stamford central business district to Interstate 95, the Stamford Transportation Center (train station), the Bull’s Head area and the Merritt Parkway. The property is comprised of a 9-story (plus penthouse) office building and an attached 4-story parking garage that accommodates 561 vehicles. The building was constructed in 1971 and has undergone periodic renovations between 1985 and 1990 and an extensive capital improvement program in 1996-97 and 2000-04.
At the time of the sale, Washington Plaza was 50.3 percent leased, with major tenants including Acxiom Corp. (23,914 square feet), Rothstein Tauber Inc. (12,957 square feet), InsightExpress (17,406 square feet), Computer Sciences Corp. (9,905 square feet), Computer Associates International (9,066 square feet) and Stamford Ophthalmology (8,911 square feet).
“Washington Plaza provides Diamond Properties with an excellent opportunity to reposition the asset for both office and medical use,” Dunne said. “The property is well located and parked for medical uses. Coincidentally, the first medical tenant, Stamford Ophthalmology, just executed an 8,911-square-foot lease in the building, just prior to closing.”
“Diamond Properties is excited to be acquiring a quality office building with ample parking in downtown Stamford, and we look forward to working with CB Richard Ellis’ leasing team to bring the property up to full occupancy,” said Jim Diamond of Diamond Properties.
Urquhart Joins CB-Scalzo
Norman Urquhart has joined Bethel-based Coldwell Banker Commercial-Scalzo Group as a client executive.
A Newtown resident, Urquhart previously worked 28 years at IBM where he developed skills in sales, marketing and project management. Urquhart spent time working as a real estate investor and acquired experience in commercial real estate.
“We’re pleased to have Norman onboard. His integrity, professionalism and enthusiasm for the commercial real estate market will bring tremendous value to our company,” said Paul Scalzo, president of Scalzo Group Real Estate Services.
Urquhart holds a Bachelor of Science degree in marketing management from Long Island University, is a member of the Waterbury Property Owners Association and is active in a number of civic and charitable organizations.
